Analysts Expect PennyMac Mortgage Investment Trust (PMT) Will Announce Quarterly Sales of $89.10 Million

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Equities research analysts expect PennyMac Mortgage Investment Trust (NYSE:PMT) to announce $89.10 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for PennyMac Mortgage Investment Trust’s earnings. The highest sales estimate is $94.00 million and the lowest is $80.40 million. PennyMac Mortgage Investment Trust reported sales of $75.67 million in the same quarter last year, which indicates a positive year over year growth rate of 17.7%. The business is expected to report its next quarterly earnings report on Thursday, May 2nd.

On average, analysts expect that PennyMac Mortgage Investment Trust will report full-year sales of $380.37 million for the current financial year, with estimates ranging from $350.70 million to $404.90 million. For the next year, analysts anticipate that the company will report sales of $406.00 million, with estimates ranging from $375.80 million to $430.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for PennyMac Mortgage Investment Trust.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings data on Thursday, February 7th. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.14. PennyMac Mortgage Investment Trust had a return on equity of 12.19% and a net margin of 43.52%. The firm had revenue of $83.90 million for the quarter, compared to analysts’ expectations of $138.40 million. During the same period last year, the business posted $0.32 earnings per share. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis.

PMT has been the topic of several research analyst reports. Zacks Investment Research upgraded PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Wednesday, December 26th. ValuEngine upgraded PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Keefe, Bruyette & Woods restated a “hold” rating and set a $22.00 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Tuesday, February 12th. Barclays set a $21.00 price objective on PennyMac Mortgage Investment Trust and gave the stock a “hold” rating in a research note on Thursday, March 7th. Finally, Nomura initiated coverage on PennyMac Mortgage Investment Trust in a research note on Wednesday, March 27th. They set a “buy” rating and a $23.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $21.86.

PMT traded down $0.06 during trading hours on Friday, hitting $20.79. 428,942 shares of the stock were exchanged, compared to its average volume of 601,205. PennyMac Mortgage Investment Trust has a 12 month low of $17.29 and a 12 month high of $21.42. The stock has a market capitalization of $1.42 billion, a PE ratio of 10.45, a price-to-earnings-growth ratio of 2.31 and a beta of 0.60. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.40 and a quick ratio of 0.40.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 29th. Shareholders of record on Monday, April 15th will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 9.04%. The ex-dividend date is Friday, April 12th. PennyMac Mortgage Investment Trust’s dividend payout ratio is presently 94.47%.

In other PennyMac Mortgage Investment Trust news, Director Scott W. Carnahan sold 5,721 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $20.75, for a total value of $118,710.75. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO David Spector sold 35,000 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $20.61, for a total value of $721,350.00. The disclosure for this sale can be found here. 2.46% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of Montreal Can increased its position in PennyMac Mortgage Investment Trust by 69.1% in the fourth quarter. Bank of Montreal Can now owns 1,461 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 597 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in shares of PennyMac Mortgage Investment Trust during the fourth quarter valued at $59,000. Meeder Asset Management Inc. acquired a new position in shares of PennyMac Mortgage Investment Trust during the fourth quarter valued at $85,000. Bronfman E.L. Rothschild L.P. increased its holdings in shares of PennyMac Mortgage Investment Trust by 35,193.8% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 5,647 shares of the real estate investment trust’s stock valued at $105,000 after purchasing an additional 5,631 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in shares of PennyMac Mortgage Investment Trust by 11.3% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 6,729 shares of the real estate investment trust’s stock valued at $125,000 after purchasing an additional 682 shares during the period. 66.16% of the stock is currently owned by hedge funds and other institutional investors.

About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in residential mortgage loans and mortgage-related assets in the United States. The company's Correspondent Production segment engages in purchasing, pooling, and reselling newly originated prime credit mortgage loans directly or in the form of mortgage-backed securities (MBS).

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